The stock has been on what seems like a never ending pullback with it currently priced at $217, after being at $306 just 6 months ago.

PayPal is a financial technology company that allows most of the world to transfer money safely to one another and to purchase goods. Typically PayPal has been aligned with eBay but they have announced that they will focus less time on this and put more effort into Amazon sales through their other company Venmo. This comes after news of eBay planning to use their own payment system and that they now only account for 4% of PayPals overall revenue.

Image courtesy of Finance.Yahoo.com

Seeing a stock take a 5% hit after earnings, you would assume the news was all bad but this isn’t the case. PayPal reported a 13% increase in year-on-year revenue, announced their new Amazon deal and had revenue of $6.18Billion. They have also recently launched their crypto wallets where you can now send, receive and hold most major crypto currencies on their platform safely. The future is bright for PayPal and we expect to see it rocket back up over $300 within the next two quarters.